NSE ASI Falls For The Sixth Consecutive Trading Day, Monday
NSE Market Summary
The local bourse registered overall bearish activities for the sixth consecutive trading session. At the close of business, there were 15 gainers and 18 losers, resulting in the 11.3% decline of the key market indicators, the NSE ASI and market capitalisation. The bourse has lost 4.36% on a year to date basis.
Gainers & Losers
Shares of Seplat Petroleum Development Company and Lafarge Africa (WAPCO) gained N7.40 and N0.35 to close at N250.00 and N51.50 respectively. Conversely, shares of Total Oil Nigeria, Nigerian Breweries and MRS Oil depreciated by N12.07, N3.03 and N2.13 to close at N229.95, N130.00 and N40.60 respectively.
Market News
NAHCO Plc (Official statement to stakeholders and regulators)
It was reported that officials of Economic and Financial Crimes Commission (EFCC) visited the Headquarters of Nigerian Aviation Handling Company Plc (NAHCO) in response to a petition, and the management fully co-operated with the officials. The management has urged its stakeholders, customers and investors that core operations of the Company will be sustained under the current difficult situation, and that management will provide updates when available.
Interbank Money Market
Nigerian Interbank Treasury Bills True Yields (NITTY) mostly fell across the maturities on buy pressure – yield on 1 month fell to 14.92% while yield on 12 months maturity fell to 22.43%. Interbank rates, NIBOR, rose across all maturities amid liquidity strain – NIBOR for 1 month and 6 months rose to 17.49% and 21.86% respectively.
FGN Bond Market – OTC NG & Eurobonds
Bond prices increased across all maturities – 20-year, 10.00% FGN JUL 2030 bond and 16.00% FGN JUN 2019 debt rose by N0.23 and N0.24 respectively (corresponding yields fell to 15.24% and 15.26%). Elsewhere, Nigeria’s eurobond prices increased across all maturities on sustained bargain hunting – 10-year, 6.75% JAN 28, 2021 bond and the 10-year, 6.38% JUL 12 2023 bond gained USD0.17 and USD0.16 respectively (corresponding yields fell to 6.47% and 6.71%).